Inside Today’s Disastrous Jobs Report: 670K Full-Time Jobs Lost In 2 Months Vs 1 Million Part-Time Surge; Worst Unadjusted August Payrolls Since Great Recession

Via ZeroHedge

While the prevailing post-payrolls narrative has focused on the divergence between the stronger than expected (if soon to be revised lower) headline payrolls print (which at 187K came in just above expectations of 170K but followed two sharply downward revised months) and the unexpected spike in the unemployment rate from 3.5% to 3.8%, the highest since Feb 2022, a closer look at the details of today’s jobs report reveals just how ugly the reality behind the the Budget-Busting Bidenomics truly is.

Let’s start with revisions.

Regular readers are aware that earlier this year we spotted a peculiar trend when it comes to economic data releases by the Biden admin which  – without fail – had been revised lower…

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FOURTH TURNING WINTER OF DEATH

“Reflect on what happens when a terrible winter blizzard strikes. You hear the weather warning but probably fail to act on it. The sky darkens. Then the storm hits with full fury, and the air is a howling whiteness. One by one, your links to the machine age break down. Electricity flickers out, cutting off the TV. Batteries fade, cutting off the radio. Phones go dead. Roads become impossible, and cars get stuck. Food supplies dwindle. Day to day vestiges of modern civilization – bank machines, mutual funds, mass retailers, computers, satellites, airplanes, governments – all recede into irrelevance.

Worst Storms of All Time - The Ground Blizzard of 1977 - WorldAtlas

“Picture yourself and your loved ones in the midst of a howling blizzard that lasts several years. Think about what you would need, who could help you, and why your fate might matter to anybody other than yourself. That is how to plan for a saecular winter. Don’t think you can escape the Fourth Turning. History warns that a Crisis will reshape the basic social and economic environment that you now take for granted.” – Strauss & Howe The Fourth Turning

It was less than a year ago on December 16, 2021 when our dementia patient in chief was instructed by his handlers to lie, obfuscate and demonize critical thinking Americans who refused to become victims of the Big Pharma, Fauci promoted, untested, unsafe, ineffective gene therapy by declaring “we are looking at a winter of severe illness and death for the unvaccinated — for themselves, their families and the hospitals they’ll soon overwhelm”. Biden’s vaccine mandates were overturned in the courts. The unvaccinated did not die from Covid. Very few people died from Covid. Some really old and infirm people on death’s doorstep died with Covid. Some very unhealthy obese people died with Covid. But even 95% of the old and unhealthy survived Covid.

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CAN SOMEONE EXPLAIN THIS TO ME?

Lies, Lies & OMG More Lies – HoweStreet

I used to take the monthly bullshit pumped out by the BLS and line by line destroy their narrative. But, I got bored and no one cared. Nothing has changed. Today the BLS reported “better than expected” employment numbers according to the MSM talking heads. They said the economy added 1.8 million jobs in July and the unemployment rate fell to 10.2%. Yippee!!!!

As usual, when you actually go their site and look at the reported data, you realize this is a farce. Here’s a link to the data:

https://www.bls.gov/news.release/empsit.a.htm

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BLS Caught Fabricating Wage Data

Tyler Durden's picture

While it’s not the first time we have observed the BLS manipulate data (the last time was in “This Is What Happens When The Bureau Of Labor Statistics Is Caught In A Lie“), never before had we actually caught the Bureau Of Labor Statistics openly fabricating data. Until now.

As reported earlier today, in one of the most closely watched statistics in today’s payrolls report, the BLS reported that the annual increase in Average Weekly Earnings was a whopping 2.9%, above the 2.5% expected, and above the 2.5% reported last month. On the surface this was a great number, as the 2.9% annual increase – whether distorted by hurricanes or not – was the highest since the financial crisis.

However, a problem emerges when one looks just one month prior, at the revised August data.

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